Bush Gives Saudis Nukes
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jd in .hu
May 20, 2008, 1:52:22 PM5/20/08
to miscrandometc
Quote: ''The United States, the world's largest energy consumer, also
reached agreements with Saudi Arabia to help it protect oil resources
and develop peaceful nuclear energy.''
Saudis slightly boost oil output as Bush visits
By Tabassum Zakaria and Matt Spetalnick
Fri May 16, 6:15 PM ET
http://news.yahoo.com/s/nm/20080516/pl_nm/bush_mideast_dc
Saudi Arabia announced a modest increase in oil output on Friday after
an appeal from visiting President George W. Bush but the news did
little to douse prices that hit a new record earlier in the day.
On his second visit to the world's biggest oil-exporter this year,
Bush renewed his call for OPEC to increase production amid rising
pressure at home to take action as soaring fuel prices weigh on the
U.S. economy.
Saudi Arabia said it had raised output by 3.3 percent last week, and
was willing and able to raise output further but saw no customer
demand.
"Customers, where are you? I want to sell oil but where are the
customers? I can't sell oil just to be stored at sea," Saudi Foreign
Minister Prince Saud al-Faisal told a news conference.
Asked about Bush's response, Prince Saud said: "He was satisfied."
Saudi Oil Minister Ali al-Naimi told U.S. officials that increased
output would not reduce costs at the pump for U.S. motorists as
soaring prices were mainly the result of a weak dollar, speculation
and tensions in oil-producing countries.
Since Bush last visited Saudi Arabia in January, oil prices have
jumped some $30 to a new record near $128 a barrel on Friday, adding
to U.S. recession fears during a presidential election year in which
voters who will choose Bush's successor are increasingly focused on
the faltering economy.
"What the president said is, we need to be doing all we can do to deal
with this problem," Stephen Hadley, White House national security
adviser, told reporters. "The message that came back from the Saudis
are, we hear you, we know the markets are under pressure and we're
doing all we can do."
White House spokesman Tony Fratto said the news that Saudi Arabia had
increased output was a positive development. The supplier of more than
a 10th of the world's oil raised supplies by 300,000 barrels per day
(bpd) a week ago.
Naimi told a press conference that production in June would reach
9.450 million bpd.
COMMON GROUND ON IRAN
The United States, the world's largest energy consumer, also reached
agreements with Saudi Arabia to help it protect oil resources and
develop peaceful nuclear energy.
The announcement came as Bush ended a three-day trip to Israel where
he vowed to oppose Iran's nuclear ambitions. Tehran says its program
is peaceful but Bush said it would be "unforgivable" if Iran were
allowed to acquire a nuclear weapon.
Hadley said Bush and King Abdullah believed "Iran, working directly
and through Syria, was very much behind what happened in Lebanon,"
where Hezbollah has routed fighters loyal to the government backed by
Saudi Arabia and the West.
They also discussed how to "confront Iran's negative actions and
behavior and increase pressure on Iran."
Prince Saud objected to Bush's outspoken support for Israel during a
speech to the Knesset in Jerusalem on Thursday in which the U.S.
president referred to the Israelis as "chosen people," saying that the
Palestinians were entitled to rights as well.
"There are rights here and rights there. What is required is equality
in dealings ... and not selectiveness in dealings" Prince Saud said.
U.S. and Saudi leaders are trying to improve ties that deteriorated in
the aftermath of the September 11 attacks in 2001 and the U.S.-led
invasion of Iraq in 2003.
As part of the new oil security arrangements announced on Friday, the
White House said the two allies would conclude an agreement for
broader cooperation between the Saudi Interior Ministry and the U.S.
government.
Apart from agreements to cooperate on nuclear energy and oil security,
the White House said Saudi Arabia had agreed to join two global
initiatives -- one to combat nuclear terrorism and another to fight
the spread of weapons of mass destruction.
Bush travels to Egypt on Saturday for meetings with Palestinian
leaders. He wants to achieve an Israeli-Palestinian peace deal before
leaving office in January, but that time frame is widely regarded as
unrealistic.
(Additional reporting by Sohail Karam in Riyadh and Simon Webb in
Dubai, Writing by Lin Noueihed, Editing by Elizabeth Piper)
Copyright © 2008 Reuters Limited.
reached agreements with Saudi Arabia to help it protect oil resources
and develop peaceful nuclear energy.''
Saudis slightly boost oil output as Bush visits
By Tabassum Zakaria and Matt Spetalnick
Fri May 16, 6:15 PM ET
http://news.yahoo.com/s/nm/20080516/pl_nm/bush_mideast_dc
Saudi Arabia announced a modest increase in oil output on Friday after
an appeal from visiting President George W. Bush but the news did
little to douse prices that hit a new record earlier in the day.
On his second visit to the world's biggest oil-exporter this year,
Bush renewed his call for OPEC to increase production amid rising
pressure at home to take action as soaring fuel prices weigh on the
U.S. economy.
Saudi Arabia said it had raised output by 3.3 percent last week, and
was willing and able to raise output further but saw no customer
demand.
"Customers, where are you? I want to sell oil but where are the
customers? I can't sell oil just to be stored at sea," Saudi Foreign
Minister Prince Saud al-Faisal told a news conference.
Asked about Bush's response, Prince Saud said: "He was satisfied."
Saudi Oil Minister Ali al-Naimi told U.S. officials that increased
output would not reduce costs at the pump for U.S. motorists as
soaring prices were mainly the result of a weak dollar, speculation
and tensions in oil-producing countries.
Since Bush last visited Saudi Arabia in January, oil prices have
jumped some $30 to a new record near $128 a barrel on Friday, adding
to U.S. recession fears during a presidential election year in which
voters who will choose Bush's successor are increasingly focused on
the faltering economy.
"What the president said is, we need to be doing all we can do to deal
with this problem," Stephen Hadley, White House national security
adviser, told reporters. "The message that came back from the Saudis
are, we hear you, we know the markets are under pressure and we're
doing all we can do."
White House spokesman Tony Fratto said the news that Saudi Arabia had
increased output was a positive development. The supplier of more than
a 10th of the world's oil raised supplies by 300,000 barrels per day
(bpd) a week ago.
Naimi told a press conference that production in June would reach
9.450 million bpd.
COMMON GROUND ON IRAN
The United States, the world's largest energy consumer, also reached
agreements with Saudi Arabia to help it protect oil resources and
develop peaceful nuclear energy.
The announcement came as Bush ended a three-day trip to Israel where
he vowed to oppose Iran's nuclear ambitions. Tehran says its program
is peaceful but Bush said it would be "unforgivable" if Iran were
allowed to acquire a nuclear weapon.
Hadley said Bush and King Abdullah believed "Iran, working directly
and through Syria, was very much behind what happened in Lebanon,"
where Hezbollah has routed fighters loyal to the government backed by
Saudi Arabia and the West.
They also discussed how to "confront Iran's negative actions and
behavior and increase pressure on Iran."
Prince Saud objected to Bush's outspoken support for Israel during a
speech to the Knesset in Jerusalem on Thursday in which the U.S.
president referred to the Israelis as "chosen people," saying that the
Palestinians were entitled to rights as well.
"There are rights here and rights there. What is required is equality
in dealings ... and not selectiveness in dealings" Prince Saud said.
U.S. and Saudi leaders are trying to improve ties that deteriorated in
the aftermath of the September 11 attacks in 2001 and the U.S.-led
invasion of Iraq in 2003.
As part of the new oil security arrangements announced on Friday, the
White House said the two allies would conclude an agreement for
broader cooperation between the Saudi Interior Ministry and the U.S.
government.
Apart from agreements to cooperate on nuclear energy and oil security,
the White House said Saudi Arabia had agreed to join two global
initiatives -- one to combat nuclear terrorism and another to fight
the spread of weapons of mass destruction.
Bush travels to Egypt on Saturday for meetings with Palestinian
leaders. He wants to achieve an Israeli-Palestinian peace deal before
leaving office in January, but that time frame is widely regarded as
unrealistic.
(Additional reporting by Sohail Karam in Riyadh and Simon Webb in
Dubai, Writing by Lin Noueihed, Editing by Elizabeth Piper)
Copyright © 2008 Reuters Limited.
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